Open Access
| Issue | SHS Web Conf. Volume 73, 2020 Innovative Economic Symposium 2019 – Potential of Eurasian Economic Union (IES2019) | |
|---|---|---|
| Article Number | 01012 | |
| Number of page(s) | 13 | |
| Section | Potential of the Eurasian Economic Union | |
| DOI | https://doi.org/10.1051/shsconf/20207301012 | |
| Published online | 13 January 2020 | |
SHS Web of Conferences 73, 01012 (2020)
US-China Trade War: Causes and Outcomes
Larisa Kapustina1*, Ľudmila Lipková2, Yakov Silin1 and Andrei Drevalev1
1 Ural State University of Economics, Marketing and International Management Department of.465, 62, 8 Marta St., Ekaterinburg, 620219, Russian Federation
2 2University of Economics in Bratislava, International Economic Relations and Economic Diplomacy Department, Dolnozemská cesta 1, 852 35, Bratislava 5, Slovak republic
* Corresponding author: lakapustina@bk.ru
The article reviews the chronology and analyses the causes and possible consequences of the trade war between the US and China. The authors identify four main reasons that led to the greatest trade conflict between the two economies in history associated with intentions of the US: a) to reduce the deficit of bilateral trade and increase the number of jobs; b) to limit access of Chinese companies to American technologies and prevent digital modernization of the industry in the PRC; c) to prevent the growth of China’s military strength; and d) to reduce the federal budget deficit. It is confirmed and concluded that trade wars have no winners. Taking into account the two countries’ GDP scale and export volumes, the US-China trade war will come amid a slowdown in the global production and international trade. The article analyses the outcomes of the trade confrontation based on the scenario methodology. The authors identify 4 scenarios by making assumptions about the response pattern and conjectural variation in the bilateral economic relations. The US protectionist policy has its political dimension. The constraints of the bilateral trade is one of the tools for slowing China's military and economic power growth.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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